Strategy Tools

Could Someone Else Run It?

Fifteen honest statements across the five things that decide whether your practice transfers — or just winds down. See your score, your runway, and your first three moves.

Level 10 Coaching

Where You Stand Today

Score each statement from 1 (not at all true) to 5 (completely true). Answer for the practice as it is, not as you plan it to be.

1 = not at all true  ·  3 = partly true  ·  5 = completely true, and I could prove it.

Successor — Who takes over, and are they ready?
I've named the person or firm who will take over my clients.
I have a signed continuity agreement in case something happens to me tomorrow.
My successor has already met — and served — my top clients.
Client Transition — Will clients stay when you step back?
My top 20 households know at least one other person on my team by name.
I know my clients' spouses and adult children, not just the primary contact.
Our service model is documented so another advisor could deliver it the same way.
Business Independence — Does the practice run without you?
The practice could run for 30 days without me and clients wouldn't notice.
Onboarding, reviews, trading and billing are written down and followed.
People on my team own outcomes, not just tasks.
Financial Readiness — Do you know what it's worth and how it would pay?
I know what my practice is worth within a reasonable range.
Most of my revenue is recurring rather than one-time.
I understand how a deal would likely be structured, paid out and taxed.
Personal Readiness — Are you actually ready to let go?
I know what I'll do with my time after I step back.
I have a target date — and I've told someone.
My family and I agree on the timeline and what we need from the sale.
Succession Readiness
—/100
answer all fifteen for your full score
Your Runway
— yrs
until your target step-back age

Your Readiness, Dimension by Dimension

Where you're strong, where you're exposed, and what to work on first given the time you have.

Five Dimensions

A practice transfers at the speed of its weakest dimension.

Your Stage

StageWhat It MeansScore

Runway Check

The points you need to close, spread across the years you have left.

Score today
Score where a practice is transferableThe top stage on this scorecard80
Points to close
Years until your target
Points to close each year

Your First Three Moves

Your three lowest-scoring statements, and the move that raises each one.

Where You Scored LowestThe Move

This is a self-assessment for planning, not a valuation or legal advice. The stages are this scorecard's own bands, not an industry standard.

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See your score by dimension, your stage, your runway, and the three moves that raise your number fastest.

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Reading Your Succession Readiness Score

A practice is ready to transfer when it works, and clients stay, without the owner at the center. Your score reflects fifteen conditions that make that true across five dimensions. The overall number matters less than the shape: a practice tends to transfer at the speed of its weakest dimension.

The Weakest Dimension Sets the Pace

A strong valuation does not help if clients have never met anyone but you, and a named successor does not help if the business cannot run for a month without you. Look at your lowest dimension first. Progress there usually unlocks progress elsewhere, while progress in an already-strong dimension rarely changes the outcome.

Runway Changes Which Moves Come First

The same score means very different things at different distances from your target date. With a long runway, you can build a successor and move relationships gradually. With a short one, the priority shifts to protecting what exists: a signed continuity agreement, a second relationship for every top household, and a clear decision about timing.

Personal Readiness Is Not a Soft Dimension

Owners who cannot describe what comes next often delay a transition they have already planned on paper. Knowing what you will do with your time, agreeing on a timeline at home, and telling someone your target date are practical steps. They are frequently what turns a plan into an actual transition.

Common questions

How do financial advisors know if their practice is ready for succession?

A practice is ready for succession when a named successor can serve clients, clients have relationships beyond the owner, the business runs on documented processes, the owner understands its value and likely deal structure, and the owner is personally prepared to step back. Weakness in any one of these areas tends to slow or reduce the transfer.

What is a continuity agreement for an advisory practice?

A continuity agreement is a written arrangement that says who will serve an advisor's clients if the advisor dies or becomes unable to work. It protects clients and the advisor's family in the short term, and it is usually a separate, simpler document than a full succession plan for a planned retirement or sale.

When should an advisor start succession planning?

Succession planning works best when it starts years before the intended exit, because the most important steps - developing a successor, moving client relationships and making the business less dependent on the owner - take time to show results. A continuity agreement, however, is worth putting in place immediately regardless of the planned timeline.